SodaStream beats by $0.45, beats on revs :
- Reports Q3 (Sep) earnings of $0.69 per share, $0.45 better than the Capital IQ Consensus of $0.24; revenues rose 12.9% year/year to $124.2 mln vs the $116.78 mln Capital IQ Consensus, driven by increased consumer demand for sparkling water makers and consumables mainly in Germany, Japan, Australia, the Nordics, the U.S. and Canada. Gross margin* increased 340 basis points to 51.8% compared to 48.4% for the same period in 2015 mainly due production optimization in the Lehavim plant and price increases partially offset by a higher portion of sparkling water makers in the product mix.
- "Our top-line performance included a 23% increase in sparkling water maker unit sales to 788,000, our highest quarterly figure in nearly two years, underscoring the growing strength of our business. We believe that repositioning the SodaStream brand around sparkling water combined with effective marketing programs is setting the foundation for an acceleration in household penetration in each of our geographic regions. During the third quarter, our home carbonation system was used to produce and consume more sparkling water than any other brand worldwide, which resulted in an all-time quarterly record 7.7 million gas refills. Importantly, we are driving growth in a highly profitable manner and generating strong free cash flow following the recent consolidation of our manufacturing, logistics and distribution activities and expense optimization efforts. With significant growth opportunities ahead of us, we are very excited about the future of the business."
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